TataSteel- Picking A Top is Dangerous (Still Picked Top@408.50)

Picking a top or bottom is always a dangerous game unless it is confirmed by price action. Momentum Indicators are slowing down & current low@373.05 could be a temporary halt & some retracement could be seen before TS resumes its downtrend.

There is a rising trendline which could support TS & give a halt in the fall of 408.50- as per previous update we were glad to take a short position in TS -right at the top 407.50 with a stop of 408.60 - Just 1 Rs Stop- Look at the Risk/Reward Ratio.

I shall keep updating in this portion- next TS movement- Hope so we enjoyed the fall.

Trade active:

09:35 Hrs-IST-14th Sep2016 - "Oh" -It has broken the rising trendline- bad for bulls